MORGAN STANLEY GLOBAL CONSUMER & RETAIL CONFERENCE. Cécile Cabanis, CFO. November 14, 2017 I 1 I
|
|
- Merryl Booth
- 6 years ago
- Views:
Transcription
1 MORGAN STANLEY GLOBAL CONSUMER & RETAIL CONFERENCE November 14, 2017 Cécile Cabanis, CFO I 1 I
2 This document contains certain forward-looking statements concerning Danone. In some cases, you can identify these forward-looking statements by forward-looking words, such as estimate, expect, anticipate, project, plan, intend, believe, forecast, foresee, likely, may, should, goal, target, might, will, could, predict, continue, convinced, and confident, the negative or plural of these words and other comparable terminology. Although Danone believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated in these forward-looking statements. For a detailed description of these risks and uncertainties, please refer to the section Risk Factors in Danone s Registration Document (the current version of which is available on Subject to regulatory requirements, Danone does not undertake to publicly update or revise any of these forwardlooking statements. This document does not constitute an offer to sell, or a solicitation of an offer to buy DANONE shares. All references in this presentation to like-for-like changes, recurring operating income, recurring operating margin, recurring net income, recurring income tax rate, recurring EPS, free cash-flow, free cash-flow excluding exceptional items, and net financial debt correspond to financial indicators not defined by IFRS used by Danone, which are defined at the end of this presentation. Due to rounding, the sum of values presented in this document may differ from totals as reported. Such differences are not material. I 2 I
3 Danone at a glance A global leader in health and nutrition ~100 Years in business in 2019 ~ 25bn 2016 Net sales ~ 45bn Market capitalization ~100,000 Employees Incl WhiteWave sales As of November 7th, 2017 As of December 31, 2016; before WW acquisition 100% Healthy categories ~20 Brands over 500m sales 120 Countries #1 in most categories I 3 I
4 Our mission and ambition Value creation in a sustainable manner A company that is aligned with consumer values, creates value at the core of Danone s growth model Healthier eating and drinking in a responsible way Bringing health through food to as many people as possible US ENTITY CREATED THE LARGEST PUBLIC BENEFIT CORPORATION IN THE WORLD I 4 I
5 Our transformation journey A story of constant reinvention 1996 European food conglomerate 2016 Global health-focused portfolio 7% Glass Packaging 10% Waters 8% Beers 20% Biscuits 3% Baby Food 26% Fresh Dairy Products 3% Pasta 5% Sauces 9% Italian Cheeses 39% Healthy categories 100% Healthy categories 49% Fresh Dairy Products 21% Waters 7% Advanced Medical Nutrition 23% Early Life Nutrition Prepared and Frozen Food 9% BSN: GLASS FOOD FOCUS & INTERNATIONALIZATION ACCELERATED INTERNATIONALIZATION WHITEWAVE ACQUISITION: Global leader in organic And plant-based ALMA 38% Europe 40% CIS/Noram 22% 1960 s 1980 s I 5 I
6 Accelerating the transformation in last three years Step changes to adapt to market and consumer environment Our environment MACRO VOLATILITY CHANGING CONSUMER TRENDS DIGITAL DISRUPTION SMALL, LOCAL IS THE NEW BIG Our Journey: PORTFOLIO FOCUS: WhiteWave acquisition OPERATIONAL FOCUS: More agility, more resilience Creating a global leader strongly aligned with consumer trends New Leadership Emmanuel Faber appointed CEO Mutualization of support functions Optimization of capital allocation Global procurement for Dairy Strategic resources cycles approach Danone Manifesto Ventures Incubator I 6 I
7 : Rebalancing the model of growth Strong track record Like-for-like sales growth Sustained improvement in recurring operating margin Consistent recurring EPS growth CAGR +4.0% Cumulative +120bps CAGR +8.8% +4.7% +4.4% +2.9% 12.6% 12.9% 13.8% I 7 I
8 Commitments and strategic priorities for 2020 Accelerate growth and maximize efficiencies ACCELERATE GROWTH Execute competitive plans Engage with consumers in new way Accelerate small & local brands MAXIMIZE EFFICIENCIES Achieve synergies from WhiteWave Deliver Protein 1bn savings ALLOCATE CAPITAL WITH DISCIPLINE Build agility and resilience Balance short, mid and long term Optimize returns 2020 OBJECTIVES * SALES GROWTH: 4% to 5% MARGIN: >16% ROIC: ~12% LEVERAGE: < 3.0X (*) Like-for-like sales growth Recurring operating margin Return on invested capital Net debt / EBITDA I 8 I
9 Commitments and strategic priorities for 2020 Accelerate growth and maximize efficiencies ACCELERATE GROWTH Execute competitive plans Engage with consumers in new way Accelerate small & local brands MAXIMIZE EFFICIENCIES Achieve synergies from WhiteWave Deliver Protein 1bn savings ALLOCATE CAPITAL WITH DISCIPLINE Build agility and resilience Balance short, mid and long term Optimize returns 2020 OBJECTIVES * SALES GROWTH: 4% to 5% MARGIN: >16% ROIC: ~12% LEVERAGE: < 3.0X (*) Like-for-like sales growth Recurring operating margin Return on invested capital Net debt / EBITDA I 9 I
10 Accelerate growth Unique portfolio, solid execution 2020 LFL sales growth objectives Key drivers Net Sales 4 to 5% 2020 Unique Portfolio SUPERIOR GROWTH CATEGORIES PRODUCT INNOVATIONS Solid Execution BRAND ACTIVATION 2017 MODERATE Brand Activation > 5% 3-4% ALIGNED WITH CONSUMER PREFERENCES PORTFOLIO PREMIUMIZATION CHANNELS Specialized Nutrition Waters EDP Noram EDP International I 10 I
11 Accelerate growth A unique portfolio Early life nutrition Advanced medical nutrition *In Europe Waters Number2 in volume Fresh dairy products Plant-based food & beverages Coffee creamers & beverages I 11 I
12 Accelerate growth aligned with fast changing consumer trends 89% of prosumers think that food is as effective as medicine in maintaining overall health 58% of the FMCG growth is driven by local brands 62% of consumers think that it s essential for a company to be completely transparent Source: BETC/Havas s Eaters Digest study, The Future of Food IRI and Euromonitor 100% healthy categories ~56% of Danone s portfolio are local brands Offering US consumers the choice of non-gmo dairy brands since April 2016 I 12 I
13 Accelerate growth Strong innovation pipeline, matching consumer demand Innovate in products to build trust and transparency I 13 I
14 Accelerate growth Strong innovation pipeline, matching consumer demand Adjacent categories Snacking and on-the-go Innovate to be part of consumers lives at every moments & occasions Coffee Up: (v.) To quickly engage the imagination (k-way 10,000) and all five senses by rapidly administering very good, very stimulating coffee. I 14 I I 14 I
15 Accelerate growth Driving portfolio premiumization towards iconic brands I 15 I
16 Accelerate growth Multi-platforms activation to engage with consumer I 16 I
17 Accelerate growth Shift towards new channels I 17 I
18 Accelerate growth Q3: +4.7% LFL sales growth H Sales growth (1) Q Sales growth (1) +0.4% +4.7% First 9 months 2017: +2.1% (1) Like-for-like new Danone sales growth I 18 I
19 Commitments and strategic priorities for 2020 Accelerate growth and maximize efficiencies ACCELERATE GROWTH Execute competitive plans Engage with consumers in new way Accelerate small & local brands MAXIMIZE EFFICIENCIES Achieve synergies from WhiteWave Deliver Protein 1bn savings ALLOCATE CAPITAL WITH DISCIPLINE Build agility and resilience Balance short, mid and long term Optimize returns 2020 OBJECTIVES * SALES GROWTH: 4% to 5% MARGIN: >16% ROIC: ~12% LEVERAGE: < 3.0X (*) Like-for-like sales growth Recurring operating margin Return on invested capital Net debt / EBITDA I 19 I
20 Maximize efficiencies $300m WhiteWave synergies: significant & highly executable Ambition Accomplishments: on track with value creation WhiteWave integration on track: One national sales team in action Closing of WhiteWave s corporate HQ First corporate costs elimination Faster than expected synergies delivered in 2017 with already 10m in H1 17 Initial top-line synergies expected in 2018 (1) Recurring operating income synergies I 20 I
21 Maximize efficiencies Protein efficiency program : 1bn savings by 2020 Ambition Accomplishments: roll-out in progress Indirect cost base: 7 bn 3 pilot countries completed SALES AND MARKETING 30%* LOGISTICS 25%* MANUFACTURING 20%* PROFESSIONAL SERVICES 15%* 3 RD PARTY MANUFACTURING 10%* 15 spend category playbooks ready for activation in 30 clusters 700m Fuel for growth 1 bn savings by m Margin Sept-Oct 2017: Live in 3 clusters Starting full roll-out: end (*) % of total indirect cost base I 21 I
22 Commitments and strategic priorities for 2020 Accelerate growth and maximize efficiencies ACCELERATE GROWTH Execute competitive plans Engage with consumers in new way Accelerate small & local brands MAXIMIZE EFFICIENCIES Achieve synergies from WhiteWave Deliver Protein 1bn savings ALLOCATE CAPITAL WITH DISCIPLINE Build agility and resilience Balance short, mid and long term Optimize returns 2020 OBJECTIVES * SALES GROWTH: 4% to 5% MARGIN: >16% ROIC: ~12% LEVERAGE: < 3.0X (*) Like-for-like sales growth Recurring operating margin Return on invested capital Net debt / EBITDA I 22 I
23 Allocate capital with discipline Commitment to delivering long-term shareholder value Deleverage Invest for growth & efficiency across time horizons Shareholder returns and dividends FCF improvement Portfolio management Sustained level of capex : around 4-5% of sales Sustained dividend policy Disciplined managerial and financial approach that allows Danone to respond in the short-term and invest for the long-term I 23 I
24 New organization to ensure success of delivery and transformation agenda Increase agility and efficiency EXCOM STREAMLINED EDP Water & Africa Specialized Nutrition Finance, IS/IT, Procurement & Cycles HR / GS Focus Speed REGIONAL LEADERSHIP REINFORCED 15 regional leaders empowered on global decisions Closer to market Cross-regional collaboration 30 LOCAL CLUSTERS ONE DANONE I 24 I
25 Securing the short term delivery agenda Preparing for tomorrow objectives: objectives > 4% to 5% Recurring EPS growth at LFL sales growth constant exchange rate > 12% Recurring operating margin > 16% Reduced leverage ratio(1) to < 3.0x ROIC(1) improved to ~ 12% Focus on results, shareholder returns and long-term vision Confidence in delivering 2017 and 2020 targets (1) Please refer to financial indicators definition I 25 I
26 MORGAN STANLEY GLOBAL CONSUMER & RETAIL CONFERENCE APPENDIX I 26 I
27 Financial indicators not defined in IFRS Additional indicator of like-for-like changes: like-for-like New Danone changes Since completion of WhiteWave acquisition, WhiteWave and Danone s activities have been combined and are generating synergies. Separate reporting of WhiteWave and Danone in their pre-acquisition forms thus no longer reflects their real performance. In consequence, Danone has decided to monitor and then report its performance by integrating the contribution of WhiteWave as a whole to its organic growth from the time of the acquisition by using an additional indicator - like-for-like New Danone changes. This indicator is a variation on the like-for-like changes indicator used by Danone, such variation integrating WhiteWave s performance starting at the date of acquisition: for periods in previous years compared, and based on WhiteWave reported data after restatement to allow comparison with Danone data. This indicator is used starting with the second quarter of 2017 and running through the end of Danone does not publish like-for-like New Danone changes for prior periods given the way they are computed. Finally, Danone does not monitor internally nor publish like-for-like changes and will not do so until year-end Like-for-like changes would not reflect accurately the Company s real performance, which is reflected in like-for-like New Danone changes and, by extension, the difference between like-for-like changes and like-for-like New Danone changes would not accurately reflect the contribution of WhiteWave and its companies to the real performance. These indicators are calculated as follows: Like-for-like changes in sales and recurring operating margin reflect Danone's organic performance and essentially exclude the impact of: changes in consolidation scope, with indicators related to a given fiscal year calculated on the basis of previous-year scope; changes in applicable accounting principles; changes in exchange rates, (i) with both previous-year and current-year indicators calculated using the same exchange rates (the exchange rate used is a projected annual rate determined by Danone for the current year and applied to both previous and current year), and (ii) correcting differences caused by the exceptional volatility of inflation in countries that are structurally subject to hyperinflation, which would otherwise distort any interpretation of Danone's organic performance. I 27 I
28 Financial indicators not defined in IFRS Since inflation in Argentina already structurally high accelerated further in 2014, in particular following the sharp, steep devaluation of the peso in January, using an identical exchange rate to compare 2014 figures with those for the prior year did not accurately reflect Danone's organic performance in that country. As a result, the Company fine-tuned the definition of like-for-like changes to include in its exchange-rate impact the differences caused by the exceptional volatility in structurally hyperinflationary countries. Danone has been applying this methodology, which was applicable only to Argentina, starting from the release of 2014 full-year results. This methodology led to (i) limiting the inflation of price and cost of goods sold per kilo to their average level over three years and (ii) capping Recurring operating margin at its prior-year level; this methodology has been applied to each division operating in Argentina. With respect to 2014, adjustment for the full year was recorded in the fourth quarter of End of the special treatment of over-inflation in Argentina: In light of the normalization of the economic and monetary situation in Argentina observed since the beginning of 2017 and confirmed in Q3 2017, it is no longer justified to limit the inflation of price and to cap recurring operating margin in that country, as described above. As a result, when reporting third-quarter 2017 sales, Danone has ended its special treatment of over-inflation in Argentina with effect from January 1, As a reminder, this special treatment of over-inflation in Argentina and its suspension have no impact on reported figures. Like-for-like New Danone changes (or Like-for-like including WhiteWave starting April 2017 changes) in sales and recurring operating margin reflect the organic performance of Danone and WhiteWave combined. This indicator corresponds to like-for-like changes for Danone and WhiteWave combined, considering the activity of WhiteWave as a whole by integrating its companies during the fiscal years prior to and following their acquisition in April 2017: from April 1 to December 31 for periods compared until 2017 included; from January 1 to December 31 for periods compared in WhiteWave Base effect corresponds primarily to the contribution of WhiteWave over the period from July 1 to September 30, I 28 I
29 Financial indicators not defined in IFRS Recurring operating income is defined as Danone s operating income excluding Other operating income and expenses. Other operating income and expenses is defined under Recommendation of the French ANC (format of consolidated financial statements for companies reporting under international reporting standards), and comprises significant items that, because of their exceptional nature, cannot be viewed as inherent to its recurring activities. These mainly include capital gains and losses on disposals of fully consolidated companies, impairment charges on goodwill, significant costs related to strategic restructuring and major external growth transactions, and costs related to major crisis and major litigations. Furthermore, in connection with IFRS 3 (Revised) and IAS 27 (Revised) relating to business combinations, the Company also classifies in Other operating income and expenses (i) acquisition costs related to business combinations, (ii) revaluation profit or loss accounted for following a loss of control, (iii) changes in earn-outs relating to business combinations and subsequent to acquisition date. Recurring operating margin is defined as Recurring operating income over Sales ratio. Non-recurring results from associates include significant items that, because of their exceptional nature, cannot be viewed as inherent to the recurring activity of those companies and distort the reading of their performance. They include primarily (i) capital gains and losses on disposal and impairment of Investments in associates, and (ii) when material, non-recurring items as defined by Danone included in the net income from associates. Recurring net income (or Recurring net income Group Share) corresponds to the Group share in the consolidated recurring net income. The recurring net income measures Danone s recurring performance and excludes significant items that, because of their exceptional nature, cannot be viewed as inherent to its recurring performance. Such non-recurring income and expenses mainly include other income and expenses, non-recurring results from associates, capital gains and losses on disposals and impairments of Other non-fully-consolidated entities and tax income and expenses related to nonrecurring income and expenses. Such income and expenses excluded from Net income are defined as Non-recurring net income and expenses. Recurring income tax rate measures the income tax rate related to Danone s recurring performance and corresponds to the ratio Tax income and expenses related to recurring income and expenses over Total Recurring net income. Recurring EPS (or Recurring net income Group Share, per share after dilution) is defined as Recurring net income over Diluted number of shares ratio. Free cash-flow represents cash-flows provided or used by operating activities less capital expenditure net of disposals and, in connection with IFRS 3 (Revised), relating to business combinations, excluding (i) acquisition costs related to business combinations, and (ii) earn-outs related to business combinations and paid subsequently to acquisition date. Free cash-flow excluding exceptional items represents free cash-flow before cash-flows related to initiatives deployed within the framework of the plan to generate savings and adapt Danone s organization in Europe. Net financial debt represents the net debt portion bearing interest. It corresponds to current and non-current financial debt (i) excluding Liabilities related to put options granted to non-controlling interests and (ii) net of Cash and cash equivalents, Short term investments and Derivatives assets managing net debt. I 29 I
BERNSTEIN STRATEGIC DECISIONS CONFERENCE
BERNSTEIN STRATEGIC DECISIONS CONFERENCE September 28, 2017 Cécile Cabanis, CFO I 1 I This document contains certain forward-looking statements concerning Danone. In some cases, you can identify these
More informationBARCLAYS GLOBAL CONSUMER STAPLES CONFERENCE
I 1 I BARCLAYS GLOBAL CONSUMER STAPLES CONFERENCE September 6, 2017 Emmanuel Faber, CEO I 2 I This document contains certain forward-looking statements concerning Danone. In some cases, you can identify
More information2017 HALF-YEAR RESULTS
I 1 I 2017 HALF-YEAR RESULTS July 27, 2017 Emmanuel Faber, CEO Cécile Cabanis, CFO I 2 I This document is presented by Danone. It contains certain forward-looking statements concerning Danone. In some
More informationQ SALES. Cécile Cabanis, CFO. October 17, 2017 I 1 I
Q3 2017 SALES October 17, 2017 Cécile Cabanis, CFO I 1 I DISCLAIMER This document is presented by Danone. It contains certain forward-looking statements concerning Danone. In some cases, you can identify
More informationDelivering Superior Sustainable Profitable Growth
Investor Seminar October 22, 2018 Delivering Superior Sustainable Profitable Growth Cécile CABANIS CFO Our journey towards long-term sustainable value creation Accelerated transformation since last three
More informationStrong momentum in Essential Dairy & Plant-Based and Waters offsets Early Life Nutrition contraction in China
Third-Quarter Sales Press release Paris, October 17, Strong momentum in Essential Dairy & Plant-Based and Waters offsets Early Life Nutrition contraction in China Like-for-like sales growth: +3.1% in first-nine
More informationStrengthening the economic model
Strengthening the economic model Cécile CABANIS Executive Vice President, Chief Financial Officer Strategy and Information Systems DISCLAIMER This document is presented by Danone. It contains certain forward-looking
More information2016 RESULTS February 15, Emmanuel Faber, CEO Cécile Cabanis, CFO
2016 RESULTS February 15, 2017 Emmanuel Faber, CEO Cécile Cabanis, CFO DISCLAIMER This document contains certain forward-looking statements concerning Danone. Although Danone believes its expectations
More informationQ SALES. April 18, Cécile Cabanis CFO I 1 I
Q1 2018 SALES April 18, 2018 Cécile Cabanis CFO I 1 I Disclaimer This presentation contains certain forward-looking statements concerning Danone. In some cases, you can identify these forwardlooking statements
More informationH1 2017: performance in line with expectations, preparing for acceleration
2017 First-Half Results Press release Paris, July 27, 2017 H1 2017: performance in line with expectations, preparing for acceleration Double-digit recurring EPS growth (+11.0% at constant exchange rates)
More informationStrong set of results in a volatile context
Strong set of results in a volatile context 2018 First-Half Results Press release Paris, July 27, 2018 Double-digit recurring EPS growth at constant ex rate: +13.4% excluding Yakult Transaction Impact
More informationStrong start to the year: +4.9% like-for-like sales growth 1
2018 First-Quarter Sales Press release Paris, April 18, 2018 Strong start to the year: +4.9% like-for-like sales growth 1 Consolidated sales of 6,085m, up +10.8% on a reported basis and +4.9% like-for-like
More information2015 RESULTS. February 23, Emmanuel FABER, CEO Cécile CABANIS, CFO
2015 RESULTS February 23, 2016 Emmanuel FABER, CEO Cécile CABANIS, CFO 1 DISCLAIMER This document contains certain forward-looking statements concerning Danone. Although Danone believes its expectations
More informationPRESS RELEASE First-Half Results
PRESS RELEASE 2015 First-Half Results July 24, 2015 Solid and profitable organic growth in the first half with: Sales [1] up +4.6% [2] in the first half and up +4.5% [2] in the second quarter Trading operating
More informationDANONE A FRENCH CORPORATION (SOCIÉTÉ ANONYME) WITH SHARE CAPITAL OF 167,677,600 REGISTERED OFFICE: 17, BOULEVARD HAUSSMANN, PARIS
DANONE A FRENCH CORPORATION (SOCIÉTÉ ANONYME) WITH SHARE CAPITAL OF 167,677,600 REGISTERED OFFICE: 17, BOULEVARD HAUSSMANN, 75009 PARIS PARIS CORPORATE REGISTER NUMBER: 552 032 534 2017 INTERIM FINANCIAL
More informationCAGE CONFERENCE. London, March 23, 2016
CAGE CONFERENCE London, March 23, 2016 Emmanuel FABER CEO DISCLAIMER This document contains certain forward-looking statements concerning Danone. Although Danone believes its expectations are based on
More informationFULL YEAR RESULTS 2017
FULL YEAR RESULTS 2017 February 16, 2018 Emmanuel Faber, Chairman and CEO Cécile Cabanis, CFO I 1 I Disclaimer This press release contains certain forward-looking statements concerning Danone. In some
More information2018 INTERIM FINANCIAL REPORT
2018 INTERIM FINANCIAL REPORT DANONE A FRENCH CORPORATION (SOCIÉTÉ ANONYME) WITH SHARE CAPITAL OF 171,263,800 REGISTERED OFFICE: 17, BOULEVARD HAUSSMANN, 75009 PARIS PARIS CORPORATE REGISTER NUMBER: 552
More informationCécile Cabanis Chief Financial Officer. Deutsche Bank Access Global Consumer Conference Paris June 9,2015
Cécile Cabanis Chief Financial Officer Deutsche Bank Access Global Consumer Conference Paris June 9,2015 DISCLAIMER This document contains certain forward-looking statements concerning Danone. Although
More informationDANONE REPORT OF THE SHAREHOLDERS MEETING APRIL 27, 2017 MAISON DE LA MUTUALITE
DANONE REPORT OF THE SHAREHOLDERS MEETING APRIL 27, 2017 MAISON DE LA MUTUALITE A total of 1,002 shareholders attended the Danone Shareholders Meeting, which was held at Maison de la Mutualité on Thursday
More informationPierre-André Terisse. Deutsche Bank Global Consumer Conference Paris - June 12th, 2013
Pierre-André Terisse Deutsche Bank Global Consumer Conference Paris - June 12th, 2013 2 Disclaimer This document contains certain forward-looking statements concerning DANONE. Although DANONE believes
More informationEmmanuel Faber Chief Executive Officer. CAGE Conference London March 17, 2015
Emmanuel Faber Chief Executive Officer CAGE Conference London March 17, 2015 DISCLAIMER This document contains certain forward-looking statements concerning Danone. Although Danone believes its expectations
More informationForward looking statements
Presentation to investors April 2008 1 Forward looking statements 2 This document contains certain forward-looking statements concerning Groupe DANONE. Although Groupe DANONE believes its expectations
More informationEmmanuel Faber Vice-Chairman, Co-Chief Operating Officer. CAGE Conference London 19 March 2014
Emmanuel Faber Vice-Chairman, Co-Chief Operating Officer CAGE Conference London 19 March 2014 DISCLAIMER This document contains certain forward-looking statements concerning DANONE. Although DANONE believes
More informationMargin improvement / portfolio management / capital structure François Roger: Chief Financial Officer
Margin improvement / portfolio management / capital structure François Roger: Chief Financial Officer 1 September 26, 2017 Investor Seminar Disclaimer This presentation contains forward looking statements
More informationContinued operating improvements leading to EBITDA growth and further deleveraging
PRESS RELEASE 2018 annual Results Continued operating improvements leading to EBITDA growth and further deleveraging Highlights of the year Paris, February 14 th, 2019 Reported revenue of 2,416 million
More informationHenkel Our strategic priorities for the future. Hans Van Bylen / Carsten Knobel Press Conference, November 17, 2016
Henkel 2020 + Our strategic priorities for the future Hans Van Bylen / Carsten Knobel Press Conference, November 17, 2016 Disclaimer This information contains forward-looking statements which are based
More informationJOHN F. BROCK / CHAIRMAN & CEO BILL DOUGLAS / EVP & CFO
JOHN F. BROCK / CHAIRMAN & CEO BILL DOUGLAS / EVP & CFO Forward-Looking Statements INCLUDED IN THIS PRESENTATION ARE FORWARD-LOOKING MANAGEMENT COMMENTS AND OTHER STATEMENTS THAT REFLECT MANAGEMENT S CURRENT
More informationHenkel Shaping Henkel towards 2020 and beyond. Hans Van Bylen, Carsten Knobel German Investment Seminar 2017 January 2017
Henkel 2020 + Shaping Henkel towards 2020 and beyond Hans Van Bylen, Carsten Knobel German Investment Seminar 2017 January 2017 Disclaimer This information contains forward-looking statements which are
More informationOur Equation: Leverage & Invest Pierre-André Térisse Chief Financial Officer
Our Equation: Leverage & Invest Pierre-André Térisse Chief Financial Officer Building a high quality portfolio Our infancy: 1996-2006 Portfolio refocus Sales breakdown in 1996 Sales breakdown in 2006 Glass
More informationStrong results in 2017 with solid progress on growth and efficiency
2017 Full Year Results Press release Paris, February 16, 2018 Strong results in 2017 with solid progress on growth and efficiency Strong recurring EPS growth : 3.49, up +14.2% at constant exchange rate,
More informationOur Transformation Continues. March 21, 2018
Our Transformation Continues March 21, 2018 Disclosure Regarding Forward-Looking Statements Forward-Looking Statements and Factors That May Affect Future Results: Throughout this presentation, we make
More informationOur Transformation Continues Sidoti NDR May 29-30, 2018
Our Transformation Continues Sidoti NDR May 29-30, 2018 Disclosure Regarding Forward-Looking Statements Forward-Looking Statements and Factors That May Affect Future Results: Throughout this presentation,
More information2017 Full Year. Results Presentation. 21 February 2018
2017 Full Year Results Presentation 21 February 2018 CAUTIONARY STATEMENT 2017 Full Year Results Slide 2 Full Year Highlights 2017 Full Year Results Presentation 8TH YEAR OF DOUBLE-DIGIT GROWTH 2017 FINANCIAL
More informationH Results. July 25, 2014
1 H1 2014 Results July 25, 2014 DISCLAIMER This document contains certain forward-looking statements concerning Danone. Although Danone believes its expectations are based on reasonable assumptions, these
More informationInvestor Presentation. April 2018
Investor Presentation April 2018 Disclaimer This presentation has been prepared and issued by Nomad Foods Limited (the "Company"). This Presentation has been provided solely for information and background.
More informationForward Looking Statements
Damian Gammell, CEO Nik Jhangiani, CFO 1 1 Forward Looking Statements This document contains statements, estimates or projections that constitute forward-looking statements concerning the financial condition,
More informationFinancial Targets through 2022: Focus on Value Creation
Financial Targets through 2022: Focus on Value Creation /////////// Capital Markets Day London, December 5, 208 Wolfgang Nickl CFO Bayer AG Disclaimer Cautionary Statements Regarding Forward-Looking Information
More informationSECOND PROSPECTUS SUPPLEMENT DATED 19 APRIL 2017 TO THE BASE PROSPECTUS DATED 26 SEPTEMBER 2016 AND THE PROSPECTUS SUPPLEMENT DATED 18 OCTOBER 2016
SECOND PROSPECTUS SUPPLEMENT DATED 19 APRIL 2017 TO THE BASE PROSPECTUS DATED 26 SEPTEMBER 2016 AND THE PROSPECTUS SUPPLEMENT DATED 18 OCTOBER 2016 DANONE 21,000,000,000 Euro Medium Term Note Programme
More informationCAGNY Conference. February 22, 2018
CAGNY Conference February 22, 2018 Disclaimer This presentation has been prepared and issued by Nomad Foods Limited (the "Company"). This Presentation has been provided solely for information and background.
More informationFourth Quarter & Full-Year Fiscal 2018 Results. Strategy & Portfolio Review
Fourth Quarter & Full-Year Fiscal 2018 Results Strategy & Portfolio Review 1 Forward-Looking Statements The factors that could cause actual results to vary materially from those anticipated or expressed
More informationJOHN F. BROCK CHAIRMAN & CEO NIK JHANGIANI SVP & CFO
JOHN F. BROCK CHAIRMAN & CEO NIK JHANGIANI SVP & CFO Forward-Looking Statements Included in this presentation are forward-looking management comments and other statements that reflect management s current
More informationWHITEWAVE FOODS REPORTS RECORD FOURTH QUARTER AND FULL YEAR 2014 RESULTS CONTINUED STRONG GROWTH EXPECTATIONS FOR 2015
WHITEWAVE FOODS REPORTS RECORD FOURTH QUARTER AND FULL YEAR 2014 RESULTS CONTINUED STRONG GROWTH EXPECTATIONS FOR 2015 Net Sales Increased 34% in Q4 and 35% in FY 2014 Organic Net Sales Increased 11% in
More informationQ4 & FY 2018 Results. January 30, 2019
Q4 & FY 2018 Results January 30, 2019 This presentation contains a number of forwardlooking statements. Words, and variations of words, such as will, expect, may, believe, estimate, deliver, potential,
More informationWelcome to the Full-Year 2016 Conference. February 16, 2017 Nestlé Full-Year Results 2016
Welcome to the Full-Year 2016 Conference 1 Disclaimer This presentation contains forward looking statements which reflect Management s current views and estimates. The forward looking statements involve
More informationBEVERAGES FOR LIFE James Quincey
BEVERAGES FOR LIFE James Quincey President and Chief Executive Officer FORWARD-LOOKING STATEMENTS This presentation may contain statements, estimates or projections that constitute forward-looking statements
More information2018 compensation for the Chairman and Chief Executive Officer
Paris, February 16, 2018 2018 compensation for the Chairman and Chief Executive Officer At its February 15, 2018 meeting, the Danone Board of Directors, acting on the recommendation of the Nomination and
More information4FINANCIAL STATEMENTS 4
4.1 CONSOLIDATED FINANCIAL STATEMENTS AND NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 74 Consolidated financial statements 74 Notes to the consolidated financial statements 81 4.2 FINANCIAL STATEMENTS
More informationBernstein Strategic Decisions Conference John Murphy President, Asia Pacific. September 26, 2018
Bernstein Strategic Decisions Conference John Murphy President, Asia Pacific September 26, 2018 FORWARD-LOOKING STATEMENTS This presentation may contain statements, estimates or projections that constitute
More informationXylem Agrees to Acquire Sensus to Broaden Portfolio and Enhance Growth Platform AUGUST 15, 2016
1 Xylem Agrees to Acquire Sensus to Broaden Portfolio and Enhance Growth Platform AUGUST 15, 2016 Forward-Looking Statements This presentation contains information that may constitute forward-looking statements.
More informationWHITEWAVE FOODS REPORTS RECORD THIRD QUARTER 2015 RESULTS REPORTS FIRST $1 BILLION NET SALES QUARTER INCREASES GROWTH & EARNINGS EXPECTATIONS FOR 2015
WHITEWAVE FOODS REPORTS RECORD THIRD QUARTER 2015 RESULTS REPORTS FIRST $1 BILLION NET SALES QUARTER INCREASES GROWTH & EARNINGS EXPECTATIONS FOR 2015 Total Net Sales Increased 17%; Adjusted Constant Currency
More informationInvestor presentation
Investor presentation Important information Forward-Looking Statements and Risks & Uncertainties This document and the related oral presentation contain, and responses to questions following the presentation
More information2015 CAGNY. Muhtar Kent, Chairman & CEO Kathy Waller, EVP & Chief Financial Officer FEBRUARY 20, 2015
2015 CAGNY Muhtar Kent, Chairman & CEO Kathy Waller, EVP & Chief Financial Officer FEBRUARY 20, 2015 Forward-Looking Statements This presentation may contain statements, estimates or projections that constitute
More informationWESCO International John Engel Chairman, President and CEO. William Blair & Company 36 th Annual Growth Stock Conference June 14, 2016
WESCO International John Engel Chairman, President and CEO William Blair & Company 36 th Annual Growth Stock Conference June 14, 2016 Safe Harbor Statement Note: All statements made herein that are not
More informationFull-year results 2018
Full-year results 2018 Investor Call 1 Disclaimer This presentation contains forward looking statements which reflect Management s current views and estimates. The forward looking statements involve certain
More informationIFF Q Earnings Conference Call
INTERNATIONAL FLAVORS & FRAGRANCES IFF Q3 2018 Earnings Conference Call November 6, 2018 Cautionary Statement This presentation contains forward-looking statements within the meaning of Section 27A of
More informationGROUP FINANCE. Emmanuel Babeau, Deputy CEO and CFO
GROUP FINANCE Emmanuel Babeau, Deputy CEO and CFO 1 Disclaimer All forward-looking statements are Schneider Electric management s present expectations of future events and are subject to a number of factors
More information2,033.8 Billions of yen Billions of cigarettes Billions of cigarettes Billions of yen 8.7 % 20.3 % 33, yen up 32.
Financial Highlights Japan Tobacco Inc. and Consolidated Subsidiaries / Fiscal year ended March 31, 2012 Business Scale JT Group Sales Volume Japanese Domestic Tobacco Business 108.4 Billions of cigarettes
More information4th Quarter 2018 Earnings. Investor Presentation February 27, 2019
4th Quarter 2018 Earnings Investor Presentation February 27, 2019 DISCLAIMER Forward Looking Statements This investor presentation contains statements reflecting our views about the future performance
More informationLafargeHolcim makes good progress in 2017; Strategy 2022 to drive growth. EPS 11.9% up on prior year excluding impairment and divestments
Zurich, 07:00, March 2, 2018 LafargeHolcim makes good progress in 2017; Strategy 2022 to drive growth 4.7% growth in Net Sales on like-for-like basis Recurring EBITDA up 6.1% on like-for-like basis EPS
More informationWESCO International John Engel Chairman, President and CEO. EPG Conference May 16, 2016
WESCO International John Engel Chairman, President and CEO Safe Harbor Statement Note: All statements made herein that are not historical facts should be considered as forwardlooking statements within
More informationDanone Model in Motion
Danone Model in Motion Franck Riboud Sept 7 th, 2011 2 Disclaimer This document contains certain forward-looking statements concerning DANONE. Although DANONE believes its expectations are based on reasonable
More informationNovember Rick Goings. Chairman & CEO
November 2016 Rick Goings Chairman & CEO Forward looking statements We are making some forward looking statements today that use words like outlook or target or similar predictive words. Such forward looking
More informationPentair KeyBanc Capital Markets Industrial, Automotive & Transportation Conference
Pentair KeyBanc Capital Markets Industrial, Automotive & Transportation Conference John L. Stauch Chief Financial Officer May30, 2013 PENTAIR FORWARD-LOOKING STATEMENTS CAUTION CONCERNING FORWARD-LOOKING
More informationWHITEWAVE FOODS REPORTS RECORD FIRST QUARTER 2015 RESULTS AND INCREASES GROWTH & EARNINGS EXPECTATIONS FOR 2015
WHITEWAVE FOODS REPORTS RECORD FIRST QUARTER 2015 RESULTS AND INCREASES GROWTH & EARNINGS EXPECTATIONS FOR 2015 Total Net Sales Increased 10%; Constant Currency Net Sales Increased 13% Adjusted Total Operating
More informationMondelēz International Reports Solid 2012 Results; Raises 2013 EPS Guidance
Contacts: Michael Mitchell (Media) Dexter Congbalay (Investors) +1-847-943-5678 +1-847-943-5454 news@mdlz.com ir@mdlz.com Mondelēz International Reports Solid 2012 Results; Raises 2013 EPS Guidance 2012
More informationJohn F. Brock CHAIRMAN & CEO. Bill Douglas EVP & CFO
John F. Brock CHAIRMAN & CEO Bill Douglas EVP & CFO Forward-Looking Statements INCLUDED IN THIS PRESENTATION ARE FORWARD- LOOKING MANAGEMENT COMMENTS AND OTHER STATEMENTS THAT REFLECT MANAGEMENT S CURRENT
More informationKellogg Company February 21, Boca Raton February 21, 2018
Boca Raton February 21, 2018 Deploy For Growth Forward-Looking Statements This presentation contains, or incorporates by reference, forward-looking statements with projections concerning, among other things,
More informationChairman & CEO SVP & CFO
Chairman & CEO SVP & CFO 1 Included in this presentation are forward-looking management comments and other statements that reflect management s current outlook for future periods. As always, these expectations
More informationFull-Year & Q Results. January 31, 2018
Full-Year & Q4 2017 Results January 31, 2018 Forward-looking statements This presentation contains a number of forward-looking statements. Words, and variations of words, such as will, expect, could, likely,
More informationAverage butter market is the average daily price for Grade AA Butter traded on the CME, used as the base price for butter. 4
We are presenting the results for the third quarter of fiscal 2018, which ended on December 31, 2017. Net earnings totalled $337.0 million, an increase of $139.6 million or 70.7%. Adjusted net earnings
More informationFY 2016 RESULTS. March 2 nd, 2017
FY 2016 RESULTS March 2 nd, 2017 AGENDA Key messages & strategy execution Financial update 2017 outlook & conclusion FY2016 RESULTS 2 KEY MESSAGES & STRATEGY EXECUTION KEY MESSAGES 2016 results in line
More informationJ.P. MORGAN HEALTHCARE CONFERENCE. Robert Abernathy Chairman and CEO
J.P. MORGAN HEALTHCARE CONFERENCE Robert Abernathy Chairman and CEO OVERVIEW FORWARD-LOOKING INFORMATION Certain matters in this presentation and conference call, including our 2016 outlook, expectations
More informationKey Q3 event = Fonterra false alert
2 Disclaimer This document contains certain forward-looking statements concerning DANONE. Although DANONE believes its expectations are based on reasonable assumptions, these forward-looking statements
More informationEmmanuel Faber. The Premium Review Conference Paris December 1 st, 2011
Emmanuel Faber The Premium Review Conference Paris December 1 st, 2011 2 Disclaimer This document contains certain forward-looking statements concerning DANONE. Although DANONE believes its expectations
More informationJohn F. Brock CHAIRMAN & CEO. Nik Jhangiani SVP & CFO
John F. Brock CHAIRMAN & CEO Nik Jhangiani SVP & CFO Forward-Looking Statements Included in this presentation are forward-looking management comments and other statements that reflect management s current
More information2020 STRATEGIC AND FINANCIAL PLAN TRANSFORM TO GROW
2020 STRATEGIC AND FINANCIAL PLAN TRANSFORM TO GROW Paris, 27 November 2017 Societe Generale will present tomorrow its 2020 Strategic and Financial Plan at an Investor Day in Paris. Commenting on the plan,
More informationNestlé s long-term value creation model
Nestlé s long-term value creation model François-Xavier Roger EVP, Chief Financial Officer Nestlé, S.A. Bernstein Conference London, September 2018 September 27, 2018 Bernstein Conference 1 Disclaimer
More informationQ Results. October 29, 2018
Q3 2018 Results October 29, 2018 Forwardlooking Statements This presentation contains a number of forwardlooking statements. Words, and variations of words, such as will, expect, may, should, believe,
More information2007 full year conference call
2007 full year conference call 2007 full year conference call - 21 February 2008 Disclaimer 2 2007 full year conference call - 21 February 2008 This presentation contains forward looking statements which
More informationThird Quarter 2018 Earnings Thursday, November 8, 2018
Third Quarter 2018 Earnings Thursday, November 8, 2018 1 Forward-Looking Statements This presentation may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act
More informationReasons to Believe IR OVERVIEW 2014
Reasons to Believe IR OVERVIEW 2014 2 Forward-Looking Statements This presentation may contain statements, estimates or projections that constitute forward-looking statements as defined under U.S. federal
More informationFull-year results 2017 Conference. February 15, 2018 Nestlé full-year results 2017
Full-year results 2017 Conference 1 Disclaimer This presentation contains forward looking statements which reflect Management s current views and estimates. The forward looking statements involve certain
More information4 th Quarter 2018 Earnings Call. February 20, 2019
4 th Quarter 2018 Earnings Call February 20, 2019 Call Participants & Forward-Looking Statements Joel Quadracci Chairman, President & Chief Executive Officer Dave Honan Executive Vice President & Chief
More information2017 FULL YEAR RESULTS. February 28,
2017 FULL YEAR RESULTS February 28, 2018 1 Disclaimer This presentation contains both historical and forward-looking statements. These forward-looking statements are based on Carrefour management's current
More information2010 Full Year Results Conference Call. James Singh Chief Financial Officer
2010 Full Year Results Conference Call James Singh Chief Financial Officer Disclaimer This presentation contains forward looking statements which reflect Management s current views and estimates. The forward
More informationRESULTS FOR THE YEAR ENDED 31 MARCH Copyright Tate & Lyle PLC 2017
RESULTS FOR THE YEAR ENDED 31 MARCH 2017 Copyright Tate & Lyle PLC 2017 Cautionary Statement This presentation for the Full Year Results for the year ended 31 March 2017 contains certain forward-looking
More informationPhilips Lighting reports 0.5% full year comparable sales growth, 10% operational profitability and EUR 403 million free cash flow
Philips Lighting reports 0.5% full year comparable sales growth, 10% operational profitability and EUR 403 million free cash flow Q4 & Full Year 2017 presentation February 2, 2018 Important information
More informationAverage butter market is the average daily price for Grade AA Butter traded on the CME, used as the base price for butter. 4
We are presenting the results for the first quarter of fiscal 2018, which ended on June 30, 2017. Net earnings totalled $200.3 million, an increase of $23.6 million or 13.4%. Earnings before interest,
More informationWESCO International John Engel Chairman, President and CEO
WESCO International John Engel Chairman, President and CEO Raymond James 37 th Annual Institutional Investors Conference 2016 Raymond James 37th Annual Institutional Investors Conference 2016 Safe Harbor
More informationFinancial Overview and Model
Financial Overview and Model Investor Day June 2, 2016 David White Chief Financial Officer 1 2016 Align Technology, Inc. All rights reserved. Forward Looking Statement During this presentation and corresponding
More informationMulti-Color Corporation Investor Update
Multi-Color Corporation Investor Update October 2018 Nasdaq: LABL www.mcclabel.com Safe Harbor Statement The Company believes certain SAFE statements contained HARBOR in this report STATEMENT that are
More informationA new inflection point. 10 February 2017
A new inflection point 10 February 2017 1 Important notice This presentation contains statements with respect to the financial condition, results of operations and business of RB (the Group ) and certain
More informationGood morning to you all and thanks for attending our conference call today.
Good morning to you all and thanks for attending our conference call today. Our CFO Ross McCluskey and Denis Moreau, our VP of Investor Relations are with me on the call. This morning we announced a strong
More informationdbaccess GLOBAL CONSUMER CONFERENCE 2018 Damian Gammell CEO, Nik Jhangiani CFO GLOBAL CONSUMER CONFERENCE 2018
dbaccess Damian Gammell CEO, Nik Jhangiani CFO 1 FORWARD-LOOKING STATEMENTS This document may contain statements, estimates or projections that constitute forward-looking statements concerning the financial
More informationSeptember Mike Poteshman. Executive VP & CFO
September 2016 Mike Poteshman Executive VP & CFO Forward looking statements We are making some forward looking statements today that use words like outlook or target or similar predictive words. Such forward
More informationINVESTOR BRIEFING. Our vision:
INVESTOR BRIEFING February 2017 NYSE: BMS Our vision: A passionate commitment to the growth and success of our customers will make Bemis the clear choice for inspired packaging solutions SAFE HARBOR STATEMENT
More informationPRESS RELEASE. First Quarter Sales 2009
PRESS RELEASE First Quarter Sales 2009 April 16 th, 2009 Continued positive like-for-like volume and sales growth in first quarter 2009 Full-year targets 2009 reconfirmed Total sales up 1.0% [1] despite
More informationMeeting the Management 2017 The road ahead expanding our strengths. Matthias Zachert, CEO
Meeting the Management 2017 The road ahead expanding our strengths Matthias Zachert, CEO Safe harbor statement The information included in this presentation is being provided for informational purposes
More informationFOURTH QUARTER 2017 EARNINGS PRESENTATION FEBRUARY 8, 2018
FOURTH QUARTER 2017 EARNINGS PRESENTATION FEBRUARY 8, 2018 REGARDING FORWARD-LOOKING STATEMENTS Statements contained in this press release that are not historical facts are forward-looking statements.
More information